Rivals' funds growth neck and neck

Twenty-three is the number. Hong Kong's Securities and Futures Commission reported yesterday that its annual survey of the local asset management industry revealed AUM growth of 23%, to a total of HK$3,618 billion ($465 billion) as of end-2004. That matches the pace reported earlier by the Monetary Authority of Singapore, which showed total assets managed in the Lion City also grew by 23% in 2004, to S$572.6 billion ($343 billion).